The Shanghai Foreign Investment Association held a news conference on Dec 17, releasing the list of the city's top 100 foreign-funded enterprises in 2019 in terms of their income, imports and exports, tax payments and employment.

With the implementation of the Foreign Investment Law, a new foreign investment information reporting system was established and a total of 59,432 foreign-invested enterprises in Shanghai were covered in the annual national foreign investment report.

Shang Yuying, deputy secretary-general of the Shanghai municipal government, talks at the news conference on Dec 17. [Photo/WeChat account: scofcom]

Shanghai Volkswagen Automotive Co, ranking first in both revenue and tax paid, generated total revenue of 257.09 billion yuan ($39.31 billion) in 2019 and paid 30.64 billion yuan in tax.

Pegatron Technology (Shanghai) Co recorded the highest total of imports and exports, valued at  123.71 billion yuan and created the highest number of jobs with 60,606 employees.

Officials said that most of the top 100 foreign-funded enterprises established themselves in Shanghai between 2000 and 2009.

Of these, Schindler (China) Elevator Co Ltd set up operations in Shanghai in 1980, making it the first Sino-foreign joint venture in the city. The latest one to arrive was Tesla (Shanghai) Co, established in 2018.

Shang Yuying, deputy secretary-general of the Shanghai municipal government, attended the conference.